Plaintree Systems buys U.S.-based aerospace company

OTTAWA, Ontario, 8 Feb. 2012. Plaintree Systems Inc. (CNSX:NPT) has acquired the business and assets of Summit Tool Corp. of Pocono Summit, Pa. Officials at Summit Aerospace USA Inc., Plaintree’s U.S. subsidiary, will operate the business, which is expected to help position the aerospace division in the high-value engine component sector.

“We are excited about this acquisition,” notes David Watson, Plaintree’s CEO. “This company has been a very successful and consistently profitable value-added manufacturer of aerospace engine components for over 30 years. The end users of its products are all of the largest helicopter and aircraft engine manufacturers.”

Summit Aerospace provides precision machining of nickel-based superalloys and titanium, (Inconel 718, Nimonic Series, and René 41), up to 36 inches in diameter and holding tolerances of 1/1000, to the aerospace and defense markets. The components machined by Summit include those for Turbine shrouds, seal assemblies, and pressures seals, as well as diffusers, upper flanges, forward flanges, housings, stationary air seals, outer cases, and bearing housings.


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